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Exhibit 12 (b)
Joseph E. Seagram & Sons, Inc. and Subsidiary Companies
Computation of Ratio of Earnings to Fixed Charges
(U.S. dollars in millions)
<TABLE>
<CAPTION>
Five-Month Fiscal Year
Fiscal Years Ended June 30, Transition Ended
----------------------------------------------- Period Ended January 31,
2000 1999 1998 1997 June 30, 1996 1996
----------- ---------- ---------- ----------- --------------- -------------
<S> <C> <C> <C> <C> <C> <C>
Income (loss) from continuing operations,
before tax $ (45) $ (17) $ 17 $ 122 $ (37) $ 82
Add (deduct):
Dividends from equity companies 1 1 2 1 - 3
Fixed charges 522 349 182 172 70 165
Interest capitalized, net of amortization - - - (1) - -
----------- ---------- ---------- ----------- --------------- -------------
Earnings available for fixed charges $ 478 $ 333 $ 201 $ 294 $ 33 $ 250
=========== ========== ========== =========== =============== =============
Fixed charges:
Interest expense $ 512 $ 339 $ 170 $ 159 $ 65 $ 145
Portion of rent expense deemed to
represent interest factor 10 10 12 13 5 20
----------- ---------- ---------- ----------- --------------- -------------
Fixed charges $ 522 $ 349 $ 182 $ 172 $ 70 $ 165
=========== ========== ========== =========== =============== =============
Ratio of earnings to fixed charges (a) (b) 1.10 1.71 (c) 1.52
=========== ========== ========== =========== =============== =============
</TABLE>
(a) Fixed charges exceeded earnings by $44 million for the year ended June
30, 2000.
(b) Fixed charges exceeded earnings by $16 million for the year ended June
30, 1999.
(c) Fixed charges exceeded earnings by $37 million for the transition
period ended June 30, 1996.
